SG Americas Securities LLC Has $13.58 Million Stock Position in NovoCure Limited $NVCR

SG Americas Securities LLC increased its stake in NovoCure Limited (NASDAQ:NVCR) by 346.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,245,541 shares of the medical equipment provider’s stock after purchasing an additional 966,735 shares during the quarter. SG Americas Securities LLC owned approximately 1.09% of NovoCure worth $13,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVCR. Corient Private Wealth LLC boosted its holdings in shares of NovoCure by 34.0% in the fourth quarter. Corient Private Wealth LLC now owns 46,952 shares of the medical equipment provider’s stock worth $608,000 after buying an additional 11,925 shares during the period. Kera Capital Partners Inc. increased its position in shares of NovoCure by 84.4% in the fourth quarter. Kera Capital Partners Inc. now owns 19,691 shares of the medical equipment provider’s stock worth $244,000 after acquiring an additional 9,015 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of NovoCure by 14.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 32,660 shares of the medical equipment provider’s stock valued at $422,000 after acquiring an additional 4,124 shares during the period. Empowered Funds LLC acquired a new stake in shares of NovoCure during the fourth quarter valued at approximately $33,000. Finally, XTX Topco Ltd lifted its position in shares of NovoCure by 159.2% in the 4th quarter. XTX Topco Ltd now owns 58,795 shares of the medical equipment provider’s stock valued at $760,000 after acquiring an additional 36,111 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Stock Performance

NVCR stock opened at $15.43 on Friday. The firm has a 50 day simple moving average of $15.95 and a 200 day simple moving average of $13.65. NovoCure Limited has a 52 week low of $9.82 and a 52 week high of $18.92. The stock has a market cap of $1.79 billion, a P/E ratio of -10.08 and a beta of 0.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The company had revenue of $174.06 million during the quarter, compared to analyst estimates of $167.77 million. During the same quarter in the prior year, the company posted ($0.31) EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts anticipate that NovoCure Limited will post -1.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NVCR has been the topic of several research analyst reports. Evercore reiterated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. HC Wainwright restated a “buy” rating and issued a $46.00 target price (down from $48.00) on shares of NovoCure in a report on Thursday, June 18th. Wells Fargo & Company raised their target price on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings upgraded NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Finally, Wedbush reissued a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research report on Thursday, April 16th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $25.67.

Insiders Place Their Bets

In related news, Director Allyson J. Ocean sold 2,945 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director directly owned 11,324 shares in the company, valued at approximately $178,579.48. This trade represents a 20.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Frank X. Leonard sold 34,273 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $17.93, for a total value of $614,514.89. Following the completion of the transaction, the chief executive officer owned 459,520 shares in the company, valued at $8,239,193.60. This trade represents a 6.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 51,943 shares of company stock valued at $893,171 in the last three months. Company insiders own 5.52% of the company’s stock.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.